Global oil prices continued to strengthen during Tuesday\u2019s trading (7\nApril 2026), as geopolitical tensions in the Middle East heated up ahead\nof the deadline for the ultimatum from US President Donald Trump to\nIran.<\/p>\n
According to Refinitiv data as of 09:40 WIB, Brent crude was at\nUS$111.02 per barrel, up from US$109.77 the previous day. Meanwhile,\nWest Texas Intermediate (WTI) was recorded at US$114.61 per barrel,\nsurging from US$112.41.<\/p>\n
Over the past week, the price rally has been consistent: Brent has\nrisen nearly 10% since 1 April, while WTI has jumped more than 14%.<\/p>\n
This increase comes amid escalating conflict centred on the Strait of\nHormuz, a vital route carrying around 20% of global oil supplies. Iran\nis reported to have closed access to the strait since late February,\nfollowing attacks involving the United States and Israel. The impact has\nbeen immediate: tanker traffic is stalled, and global supplies are\ndisrupted.<\/p>\n
US President Donald Trump has ramped up pressure with harsh threats\nagainst Tehran. He stated he would take further steps if Iran does not\nreopen the Strait of Hormuz before the specified deadline. In his\nstatement, Trump even warned that Iran could be \u201cdestroyed\u201d if it does\nnot comply with the ultimatum.<\/p>\n
On the other hand, Iran has rejected a proposal for a temporary\nceasefire and demands a permanent end to the conflict. This tension has\nleft the market in a state of high alert, with market participants\nclosely monitoring developments minute by minute, especially ahead of\nthe deadline set by Washington.<\/p>\n
The situation on the ground has further soured sentiment. Iran is\nreported to have halted two Qatari LNG ships without explanation, while\nSaudi Arabia has confirmed intercepting seven ballistic missiles aimed\nat its eastern region\u2014near energy facilities. At the same time,\nUkrainian drone attacks on Russian oil infrastructure in the Black Sea\nhave added pressure to the global supply side.<\/p>\n
From a policy perspective, OPEC+ has indeed agreed to an increase in\nproduction quotas by 206,000 barrels per day for May. However, its\nrealisation is in doubt because several major producing countries face\ndistribution obstacles due to the closure of export routes in the\nconflict area.<\/p>\n
Amid this situation, spot oil prices, particularly WTI, have surged\nwith premiums hitting records, as refineries in Asia and Europe hunt for\nalternative supplies. Saudi Aramco has even raised the official selling\nprice of Arab Light to Asia to the highest premium level in history,\nreaching US$19.50 per barrel above the Oman\/Dubai benchmark.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/oil-prices-continue-to-soar-opec-prepares-to-ramp-up-production-1775613245", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }